EXFO posts sales of $72 million

EXFO reported sales of US$72.2 million for the third quarter of its fiscal 2018, up from US$58.5 million in the third quarter of 2017. The IFRS sales included a US$8.6 million contribution from recently acquired Astellia

IFRS net loss in the third quarter of fiscal 2018 totaled US$6.0 million, or US$0.11 per share, compared to US$4.3 million, or US$0.08 per share, in the third quarter of 2017. IFRS net loss in the third quarter of 2018 included US$4.1 million in after-tax amortization of intangible assets, US$0.4 million in stock-based compensation costs, US$0.9 million for acquisition-related fair value adjustment of deferred revenue and a foreign exchange gain of US$0.2 million.

Gross margin before depreciation and amortization amounted to 59.9% of sales in the third quarter of fiscal 2018 compared to 58.0% in the third quarter of 2017.

"I am pleased our organic business and newly acquired Astellia delivered healthy growth in the third quarter and after nine months into fiscal 2018," said Philippe Morin, EXFO's Chief Executive Officer. "This solid execution across the combined organization demonstrates that EXFO is on the right path to profitable growth. Looking ahead, we are strategically transforming our monitoring and analytics business to offer a highly differentiated solution as the communications industry migrates to NFV and 5G architectures."